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Real Estate Auction Sales Exceed $130 Million in 2016

New York’s Maltz Auctions Reports Record Sales for 2016

Real Estate Transactions Totaled in Excess of $130m

(Islandia, NY – February 3, 2017)- For the fourth quarter of 2016, Maltz Auctions, a leading full-service auction company serving the New York metropolitan region, reported a year-over-year increase of 28% in gross real estate sale closings.

“2016 was the first full year my father David, the company’s founder, wasn’t at the helm,” said Richard Maltz, President of Maltz Auctions. “I’m ecstatic that we were able to honor his memory by surpassing our goals and posting records sales. Real estate transactions alone totaled in excess of $130 million.”

Full Year Highlights:

  • A 92 key, partially constructed boutique hotel located in lower Manhattan on a fully approved development site. SOLD- $30.075 million
  • The Allegria Hotel- A fully-operational, 143 key, oceanfront hotel located in the heart of Long Beach, NY. SOLD- $27.4 million
  • A mixed-use building and development site, located on a well-trafficked corner, on the lower east side, Manhattan. SOLD- $10.918 million
  • A gated enclave of five estate homes/lots, known as “Weathervane Estates” including the renowned Historic Jessup Homestead, located south of the highway in the heart of Quogue Village, N.Y., in bulk. SOLD- $5.512 million
  • A Luxurious, turnkey, 9,000 sq. ft. mixed-use building in North Corona, Queens. SOLD- $4.399 million
  • Pelham Bay View Condominiums- A multi-family building with eleven unsold sponsor condominiums in Bronx, NY. SOLD- $3.816
  • A 5.6+ acre waterfront property with spectacular views, as well as a garage for 30+ automobiles, located in Huntington Bay, NY within the private Bay Crest Association community. SOLD- $2.968 million

“Our auto auction division, as well as our personal property gallery auctions, and our heavy equipment division, generated nearly $20 million in sales and continue to attract an increasing number of participants. We couldn’t be more pleased,” added Maltz.

For details about additional upcoming auctions visit MaltzAuctions.com.

About Maltz Auctions:

Maltz Auctions, Inc. d/b/a Maltz Auctions is a premier, full-service auction company specializing in creating liquidity through the auction method of marketing. Now a $100+ million company with an impeccable reputation for professionalism, integrity and success, Maltz Auctions has conducted thousands of auctions and generated over $2 billion in sales on behalf of such clients as the U.S Bankruptcy Courts and financial institutions throughout the country, the U.S. Department of Justice, Internal Revenue Service, N.Y. State Department of Taxation & Finance, Estate Executors and Public Administrators, as well as law firms, private individuals and corporations, nationwide. The principals are court approved auctioneers, real estate brokers and receivers. The 35-year-old firm is nationally recognized as a trusted name in excellence and achievement. Throughout this period, we have developed an exemplary reputation in each of the diversified service areas our firm provides.